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1. Explain why it is important for a firm to know it's efficient scale of production and how a firm determines its efficient scale of production.
2. Explain how a market with no barriers to entry or exit results long run economic profits equaling zero.
Using the circular flow (inner-tube) model for national income, what would be the effect of an increase in taxes, taken alone (that is, all other factors remaining unchanged)?
In 1990, the GDP of Canada was $680 Billion dollars, and the exchange rate was that $1 Canadian was worth 85 U.S. cents. In 2000, the GDP of Canada was $1000 billion as measured in Canadian dollars and the exchange rate was that $1 Canadian was worth..
Which of the following terms best describes a contract that guarantees an agent some payment, but provides enough incentive so that the agent does not shirk?
What is a standardized budget deficit/surplus? How is it different from actual budget deficit/surplus? How is budget deficit/surplus related to public debt? What is the approximate percentage of US public debt that is owned by foreigners? What is the..
This is question one regarding the Fair Labor Standards Act of 1938 and subsequent amendments. For this question list the main components of the original act and provide a paragraph on each one and its impact on the American workplace. Remember to in..
Based on discussions surrounding the controversy over the value of the Chinese yuan in foreign currency markets, is China still using central bank foreign exchange policy to maintain the value of the Yuan?
Using the following table, compute the 95% confidence intervals for the expected annual return of the four different investments.
When it comes to the goal of eliminating absolute poverty and income inequality, most economists would argue that
A small dam was constructed for $2,000,000. The annual maintenance cost is $15,000. If interest is 5%, compute the capitalized cost of the dam, including maintenance.
Suppose a soft-drink firm is grappling with the decision about whether or not to introduce to the market a new carbonated beverage with 25 percent real fruit juice. How might it use the six decision steps to guide its course of action?
Why does hedging usually take place with a forward contract.
Suppose a consumer derives satisfaction from consuming tacos: those from Taco Bell and those from Chipoltle. Graph the budget line of the consumer under the assumption that he is offered a “buy three, get one free” deal at Taco Bell (limit one free t..
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